they’re betting on who’s going to be next chairman of the fed

Trump Now “Hates” Gary Cohn, Who “May Be Pressured To Leave White House”: Report
Tyler Durden, Zero Hedge, Sep 8 2017

When Gary Cohn criticized Trump’s response to the Charlottesville tragedy, he set off a sequence of events which not only reportedly cost the former Goldman COO his future position as Fed chair but, according to an overnight report from Reuters, his job as Trump’s chief economic advisor. Extending on recent reports from the WSJ that Gary Cohn has lost Trump’s good graces in recent days, Reuters focuses on that the newly fraying relationship between Pres Trump and Gary Cohn, which has raised questions about how long Cohn will stay in his job, according to two people with close ties to the White House. Several sources quoted by Reuters said Cohn had long planned to stay in his post for at least a year, but one source said concern had grown among Cohn’s allies over the past 24 hours that he might be pressured to leave. The recent concerns stem from a report in the WSJ that Cohn was unlikely to be nominated by Trump as a potential successor to Fed Chair Janet Yellen. Trump had mentioned Cohn in July for the job. Cohn resigned as president of Goldman Sachs to join the new administration. The source said:

The calculus has shifted for Gary. He’s gone, essentially, from untouchable to possibly being bounced out. The message is clear that suddenly Cohn’s job in the White House has real downside risk.

As reported at the time, the formerly sterling relationship between the two men broke down last month when Cohn crossed Trump, critizing the president in a Financial Times interview for his response to the violence at a rally organized by white nationalists in Charlottesville, in which one woman died.

Cohn, who is Jewish, told the newspaper the administration “must do better” in condemning neo-Nazis and white supremacists.

One source close to the White House said:

Trump wants to fire Cohn. He hates him. But that could be ephemeral.

While Cohn’s FT interview was intended to signal that Cohn had no plans to leave the White House and planned to push ahead with his signature project, tax reform, sources said the comments upset Trump. Trump has gone hot and cold on other advisers, some of whom have stayed, while others have left. A third source with close ties to the White House said:

Relationships change. If Gary sticks around, I fully expect that Gary’s relationship with the president will improve. When he does leave the White House, he wants it to be on his own terms.

Meanwhile, the official narrative is that all remains well. A White House official said:

Gary is focused on his responsibilities as the director of the National Economic Council, including a once-in-a-lifetime opportunity to deliver meaningful tax reform that creates jobs and grows the economy.

Perhaps. But not according to the market. As recently as late August, Gary Cohn was seen as the front runner to succeed Janet Yellen. As of this moment, he is barely in the top three, according to PredictIt:

cohn ranking.jpg

One Comment

  1. Posted September 9, 2017 at 9:09 am | Permalink

    are there jew futures on chicago board of trade?

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s